Abu Dhabi City Municipality to deploy LED streetlights

Abu Dhabi City Municipality is gearing up to swap out conventional lights in favor of LEDs on streetlights within the city. The move is part of the municipality’s commitment to reducing power consumption and achieving sustainable development. The project ... ( read original story ...)

Young entrepreneurs, investors meet in Dubai

DUBAI: Scores of startup firms occupied the Boulevard mall at Emirates Towers on Tuesday in hopes of attracting investors and increasing their profile. The Arab Youth Startup Marketplace, organised by the Arab Youth Centre and Mubadala, aims to put young ... ( read original story ...)

How to legally sublet or lease your home in Dubai

Within 2-3 business days, your account request will be processed and you will be contacted for further procedures. 6. Submit required documents at the Dubai Tourism office and pay Dh1,570 to start your approval process. This amount includes an annual ... ( read original story ...)

Emaar’s property unit valued at $6.5bn ahead of Dubai IPO

The real estate development business of Emaar Properties, which is being listed in an initial public offering (IPO) in Dubai, is expected to be valued at Dhs24bn ($6.5bn), two people familiar with the deal said. The valuation is based on the assets Emaar ... ( read original story ...)

$24bn crude swap: Ex-PPMC boss to forfeit nine Dubai properties

The Economic and Financial Crimes Commission has begun fresh moves to seize nine Dubai properties worth about N1.6bn, traced to a former Managing Director of the Petroleum Products Marketing Company, Mr. Haruna Momoh. Already, the EFCC has obtained an ... ( read original story ...)

Dubai returns to court over ship-repair company’s $2.1bn debt

The maritime engineering business, a unit of the government-owned Dubai World conglomerate, in 2012 had to use bespoke insolvency legislation to finalise its first restructuring after a hedge fund won a judgment against the firm for defaulting. Drydocks ... ( read original story ...)

UAE economic growth forecast to rise to 3-3.5% in medium term

Economic growth in the UAE is expected to increase to at least 3 percent in the medium term on the back of Expo 2020, according to Bank of America Merrill Lynch’s GEMs Macro monthly report. The bank's MENA economist Jean-Michel Saliba said UAE real GDP ... ( read original story ...)

Abu Dhabi Considers Raising $10 Billion From Bond Sale

Oct.03 -- Abu Dhabi is said to be considering raising about $10 billion from a dollar bond sale as early as Tuesday to help plug a budget deficit. Waha Capital Chief Operating Officer Alain Dib weighs in on "Bloomberg Markets: Middle East." Bloomberg 1:54 ( read original story ...)

Are you liable for income tax while living in the UAE?

For all expats in the UAE property is usually taxed in its physical location, rather than where the owner is resident, Ms McClafferty says: “This means even non-residents can be exposed to property taxes, although the scope and definition will vary ... ( read original story ...)